Nigerian lawmakers violate country’s law, ignore PWD’s needs despite spending N42 billion on renovationsSPECIAL REPORT: How disinformation fueled ethnic tensions in KadunaBeneath the Surface: The Dark World of Illicit Tin Mining in PlateauNigerian lawmakers violate country’s law, ignore PWD’s needs despite spending N42 billion on renovationsSPECIAL REPORT: How disinformation fueled ethnic tensions in KadunaZacch...
Mr Adedeji said borrowing to finance the budget is necessary to enable the government to complete and execute capital projects proposed in the budget.Support journalism driven by facts, created by Nigerians for Nigerians. Our thorough, researched reporting relies on the support of readers like you.He said though the FIRS agency had surpassed its revenue target for 2024 which could be used to finance the budget but the government needed to borrow more.
“Most of the borrowing that you have approved for us are foreign loans which have to do with our international fiscal balances. “Already, by the first half of this year, the budget deficit, the amount of borrowing compared to the wealth of the country, was already down to 4.4 per cent. Under the MTEF, it is expected to go next year to about 3.8 per cent, headed towards the limit of 3 per cent as allowed under the Fiscal Responsibility Act,’ he added.